Future Ag leaders tackle trade challenges

Feb 06, 2024

By Farm.com

The U.S. Department of Agriculture (USDA) announced 19 minority-serving institutions (MSIs) selected for the 2024 Agricultural Export Market Challenge. This immersive program equips undergraduate students with skills in diplomacy, economics, marketing, and trade policy to expand export opportunities for American agriculture.

"USDA is committed to training future leaders who can unlock new markets for our farmers," said Deputy Secretary Xochitl Torres Small. "This unique program, in partnership with Hispanic Association of Colleges and Universities (HACU), empowers students from diverse backgrounds to contribute to a thriving agricultural trade landscape."

Participating institutions like California State University, Fresno, and North Carolina A&T State University will tackle simulated challenges related to market entry strategies for U.S. food and agricultural products. Throughout the five-week program, students collaborate, develop solutions, and present their strategies to a panel of experts.

The winning team earns an exclusive opportunity to meet with USDA leaders in Washington, D.C., showcasing their talent and potential contributions to the agricultural sector. This initiative aligns with the Biden-Harris Administration's focus on advancing equity and supporting underserved communities.

Video: Markets Continue to Chase Chinese Trade Headlines

The U.S./China trade war has escalated after Trump threatened to slap 100% Tariff on China by Nov. 1 after China placed some export restrictions on rare earth minerals.
But Trump overstepped/overreacted but the meeting with Xi at the end of the month was still on even after Trump threatened China with an embargo on used cooking oil. The U.S./China were going to meet and talk about trade issues today ahead of the meeting with Xi/Trump in South Korea.
Despite the increased tensions and noise both the corn and soybean futures held support at $4.10 and $10 with a corrective bounce higher on news that U.S. corn yields are a concern.
U.S. soybean prices are $0.90 to $1.50 cheaper than Brazil.
News that China was willing to remove the tariffs on Canada if Canada would lift the 100% levies on Chinese EV vehicles sent funds short covering in canola futures. Canadian and Chinese met on Friday to discuss ag issues like canola and meat.
Stocks fell on the increased rise in tensions with the U.S./China and concerns over bad regional loans, but investors shake off the news on strong Q3 earnings from the big U.S. banks.
Wheat continued to trade to new 5-year lows while cattle were breaking out to new record highs as Trump was working his magic on lower U.S. beef prices.
U.S. crude oil continued its trend lower as did Bitcoin.